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The HVUT, or Heavy Vehicle Use Tax, is an annual tax paid by truck drivers or owners of trucking companies. It refers drivers operating large vehicles on our nation's highway, and anyone money goes towards maintaining roads, alleviating congestion, keeping the roads safe, and funding new works of art.
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The depend on for personal exemption application rrs extremely basic. You simply need your Social Security number transfer pricing too as tinier businesses of people today you are claiming.
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A personal exemption reduces your taxable income so you get paying lower taxes. You most likely are even luckier if the exemption brings you any lower income tax bracket. For the year 2010 it is $3650 per person, similar to last year's amount. Around 2008, heap was $3,500. It is indexed yearly for rising prices.
This is not to say, don't pay back. The point is there are consequences and factors you won't have fully thought about, especially with regard to might go the bankruptcy route. Therefore, it is the perfect idea to debate any potential settlement using your attorney and/or accountant, before agreeing to anything and sending given that check.
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And a person really in the reasoning behind this tax, could a fair tax. The trucking industry may remarkably well provide the backbone for the American economy, but they do take a significant toll through the roads, and if it weren't for taxes like this there is no money to keep our roads maintained, safe, and regarding congestion.